While economic uncertainties due to COVID-19 pandemic is reflected in almost every industrial sector, globally, sales of customized premixes will skyrocket, as the pandemic has highlighted the need for healthy living.
According to Future Market Insights (FMI) global tracker, worldwide revenue of customized premix market will rise 6.37% year over year to US$ 8.8 Bn in 2020. Market players must capitalize on consumers’ ever-increasing focus on health to support healthy lifestyle for employees and shoppers.
Moreover, e-commerce has witnessed a surge as consumers are turning to online channels for grocery shopping – a rise that will be sustained post-COVID-19 pandemic.
Customized Premix Market Size Study
- Global revenue pool of customized premix market will double during 2020-2030
- Amino acids premixes to capture leading value share, whilst vitamin premixes will see soaring demand in near future
- Demand for powder customized premixes will remain substantially high compared to liquid form
- Customized premixes that help improve energy and weight management will stay high in demand
- Sales of premix blends to remain prominent through 2030
- Food sector will be key revenue generator in customized premixes market over following decade
- North America and Europe to account for major value share in customized premixes market, collectively, about 84%
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“Market players are highlighting continuous impact of macro personalized trend on dietary supplement category. Consumer requirements are broadening and focusing in sync. While conventional multivitamin is prominent category, condition-centric formulations are witnessing unprecedented growth in supplement sphere, especially in gummies,” says analyst at FMI.
COVID-19 Impact on Customized Premix Market
Consumption of customized premixes will rise as consumers across the globe are viewing products and brands through a new lens amid the COVID-19 pandemic. Mega consumer trends such as ‘Healthy lifestyle’ are receiving huge spur as purchase decisions are increasingly hovering around nutritional profile of products and services.
Consumers of all age groups, worldwide, are embracing healthier dietary regimens and putting more emphasis on ingredients, seeking functional ingredients and plant-sourced alternatives. The COVID-19 crisis is redefining customized premix market in real time, triggering long-term fundamental trends within few weeks.
Recent research by Accenture of over 3,000 consumers in 15 countries across five continents has revealed that 64% of individuals are increasingly emphasizing on reducing food wastage, while about 50% are making more health-centric decisions during grocery purchasing and will continue to follow the same going forward.
FMI indicates that these evolving trends will endure post COVID-19 lesson and will remain key long-term priorities among manufacturers as well as consumers.
Customized Premix Market – Competitive Intelligence
The global customized premix market is highly fragmented, characterized by several large-scale as well as medium- and small-scale players. Given rising competition, players are investing in production developments and innovations in order to improve their market position. For instance,
- Archer Daniels Midland (ADM) Company has rolled out new assembly of flours, which all-purpose flours, organic flours, and organic premium bread flours, with additional organic milled products.
- Karl Fazer has introduced two different bakery products – Fazer Kinuskimarenkileivos and Fazer Suklaamarenkileivos – in an effort to expand its product portfolio to meet requirements in bakery industry.
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Want to Know More About Customized Premix Market?
Future Market Insights, in its new study, provides compelling insights about the customized premix market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on customized premix market through six different categories – ingredient type, form, function, application, product type, and region. The global customized premix market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of customized premixes as well as their adoption in various end users.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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